Hennessy Advisors Inc. Sells 5,700 Shares of Baker Hughes (NASDAQ:BKR)

Hennessy Advisors Inc. trimmed its position in shares of Baker Hughes (NASDAQ:BKR) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 158,400 shares of the company’s stock after selling 5,700 shares during the quarter. Hennessy Advisors Inc.’s holdings in Baker Hughes were worth $6,498,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. National Pension Service lifted its stake in Baker Hughes by 6.4% in the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock worth $49,271,000 after purchasing an additional 81,625 shares during the last quarter. Northstar Advisory Group LLC purchased a new position in shares of Baker Hughes in the fourth quarter worth about $1,180,000. Burney Co. lifted its stake in shares of Baker Hughes by 315.0% in the 4th quarter. Burney Co. now owns 138,788 shares of the company’s stock valued at $5,693,000 after acquiring an additional 105,349 shares during the last quarter. Hixon Zuercher LLC purchased a new stake in Baker Hughes during the 3rd quarter valued at about $1,980,000. Finally, Czech National Bank grew its position in Baker Hughes by 6.0% during the 4th quarter. Czech National Bank now owns 214,549 shares of the company’s stock worth $8,801,000 after acquiring an additional 12,178 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

BKR opened at $46.54 on Friday. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $47.47. The company has a market cap of $46.05 billion, a price-to-earnings ratio of 20.87, a price-to-earnings-growth ratio of 0.79 and a beta of 1.39. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $42.67 and a two-hundred day simple moving average of $38.25.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. Baker Hughes’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. Research analysts predict that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a $0.21 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.80%. Baker Hughes’s payout ratio is currently 37.67%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BKR shares. Atb Cap Markets lowered Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Jefferies Financial Group increased their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. BMO Capital Markets raised their price target on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Barclays upped their price objective on shares of Baker Hughes from $46.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada raised their target price on Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.53.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.